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Tom Lee, ex-Chief Equity Strategist JP Morgan, and Co-founder and head of research of Fundstrat, believes that the break-even price of mining 1 BTC directly correlates with the price of the cryptocurrency. He believes BTC would increase as he's counting on more institutional investors taking on Bitcoin and also a continuous increase in Bitcoin user base.Mr.
He's optimistic that increased institutional fortunes would help turn BTC's future around quite soon. Sam Doctor, an analyst in Fundsrat along with Lee predicted that by 2019, BTC might reach nothing less than $36,000, together with the probability of $64,000 in the maximum and $20,000 in its lowest. A few days ago, Tom Lee stated that the BTC fair value is a lot greater than the current cost.
Ronnie Moas, a cryptocurrency analyst predicted that BTC might reach $28,000 by 2019. He considers the demand for BTC would increase with its decreasing supply. He made it somewhat obvious that by 2019, the adoption rate would increase and hence people would demand more of it. We have to recall that BTC is not unlimited in supply. .
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In the Finance Disrupted event organized by The Economist in Manhattan Mike Novogratz, former hedge fund chief and founder of Galaxy Digital stated that he believes that BTC wont reach$9K annually, and its likely to break beyond $10,000 in the around the first quarter of 2019. This may take BTC to sky-reaching heights because it might soar way ahead of this all-time-high $20K mark. .
Bobby Lee, CEO of Chinas first exchange- BTCC stated before that it would require 20b years for BTC to reach 1 million. Now his prediction completely changed. Bobby Lee, the co-founder of BTCC(Hong Kong-based Bitcoin exchange) and the brother of Charlie Lee, Litecoin creator gave an extremely bullish prediction but started with bearish though.
He iterated that the industry capital might reach $7 trillion, that might surpass the market cap of gold. .
Zhao Dong, one of the largest Bitcoin OTC traders in China and an influencer recently predicted that Bitcoin could reach $50,000 by 2021. He reiterated that now is the best time to invest in BTC and stated that you might find a return of 100 to 200 percent more than 3 years if you invest now. .
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In a recent tweet, Anthony Pompliano, founder of Morgan Creek said that Bitcoin isn't going anywhere. He said that BTC could go as low as $3000, and it will continue being bullish starting from 2019. He enunciated that there is no reason to freak out on the declining price as Bitcoin's fundamentals are becoming stronger. .
Arthur Hayes, the CEO of all crypto derivatives exchange BitMex, on the other hand, have come with an extremely pessimistic bearish prediction. He changed his earlier prediction statement based on the sudden change in the marketplace. Previously he'd stated that BTC has the prospect of reaching $50K at the end of the year, but now he says that BTC will reach as low as $3K and will continue resource being bearish for the entire 2019. .
Even though Bitcoin has been experiencing frequent fluctuations, we believe that Bitcoin will soar upward according to the predictions mentioned previously. There are several reasons which led to Bitcoins cost fall such as Bitcoins being used for illicit purposes and so many previous accidents like hacking and thefts. Pros outperformed the cons, hence Bitcoin is check this site out still the industry leader, bagging the number one position and maintaining its position.
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2019 will be bullish for Bitcoin, as by then the adaptability will be higher as more people will begin believing in the technology behind Bitcoin. Bitcoin will reach up to $20,000 from the mid of 2019. The longer the trading, the greater the cost. Additionally, as we know, Bitcoins are scarce in circulation, i.e.
Additionally, many countries like the U.S., Japan, and South Korea have shown extreme willingness to integrate Bitcoin and other cryptocurrencies into their financial systems by setting up regulated markets which might function freely and safely. .
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The cryptocurrency market will experience a market optimism in 2020, as not only Bitcoin, but all the significant cryptocurrencies will even experience an upward change. The governments and the central banks will probably adopt the electronic currencies, hence the demand needs to be .